However, the current downtime of Demonoid has nothing to do with legal actions, but with hardware issues. The Demonoid team says they are currently replacing harddrives, and that it could take a few days before the site is back up.

The timeline given indicated that this is more than a regular hardware update. The downtime is probably caused by harddrive failure.

The official announcement in the Demonoid IRC channel is:
“Site offline for a few days while harddrives get replaced”

At this point it is still uncertain if any data is permanently lost or how long it will take to get things up and running. According to one of the admins It looks like the most recent data is lost for good. The good news is that there are backups, but these are a few days old.

Luckily the Demonoid trackers are not affected by the downtime. Demonoid is still one of the most used trackers, any downtime of the tracker will make thousands of torrents unusable in clients without DHT and multi-tracker support.

Update:

Demonoid placed this message on the frontpage:

We had a system problem which will force us to restore everything from backup.
The disks are pretty much empty right now and until we are able to upload the backup and set up everything up, we have to close down.